$1.5B Newark School Budget Proposed: See Early Details (VIDEO)

NEWARK, NJ — The largest public school district in New Jersey put forth a $1.57 billion spending plan at Wednesday’s meeting of the Newark Board of Education.

The board introduced a preliminary 2025-2026 budget during its meeting at Barringer High School. The spending plan will likely see changes before it reaches the finish line.

School Business Administrator Valerie Wilson gave a presentation on the proposed budget, which can be seen here.

According to figures presented at the meeting, the proposed school budget would come with a $33 annual tax increase for the average homeowner in the city.

In the last 12 years, the Newark Public School District has raised its local taxes by an average of 2.2 percent, administrators said.

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Wilson said that student enrollment has increased by about 1,600 students since last year, a number that district administrators called “unparalleled.”

The rise in enrollment is being fueled by several factors: new schools, increased grade spans, pre-K expansion, high school redesign strategy and migrant population.

While the district received a $75 million increase in state aid, Newark was entitled to a $112 million increase under the School Funding Reform Act. The state and local taxes are the district’s two largest sources of revenue, Wilson said.

Other budget highlights include:

• The tax levy on Newark residents is more than $143 million
• Schools will have a net increase of 53 positions consisting of 20 new teachers compared to the FY24-25 original budget.
• The district is using $7.3 million from its capital reserve fund for refurbishing Schools Stadium on Bloomfield Avenue and the Sussex Avenue School cafetorium

“This preliminary budget delivers the resources our students need to excel academically while upholding our commitment to sound financial management,” board of education president Hasani Council said.

Watch footage from the board’s March 26 meeting below (video is cued to the budget presentation).

PROPERTY TAXES IN NEWARK

In 2024, the average Newark resident paid $7,238 in property taxes on a home valued at $190,334 (not including credits and deductions).

Property taxes in New Jersey are mainly made up of three parts: school, municipal and county. Here’s how that played out in Newark for 2024, according to state data (percentages rounded up):

• School – 30%
• Municipal – 56.1%
• County – 13.8%

Newark is one of the only towns in the area with a tax bill that is below the state average. In total, the average Essex County property owner paid $13,900 in taxes on a home valued at $454,513 last year: the highest in New Jersey.

The city is currently conducting a mandatory property tax revaluation after 14 years, which could potentially increase – or lower – a Newark home or business owner’s property taxes. Letters with the new property values are expected to be sent at the end of 2026.

• See Related: Property Tax Revaluation In Newark: Will Your Share Rise Or Fall?

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